Dow to Shut Down Three Plants in Louisiana
The Dow Chemical Company said it will close three plants in Louisiana to cut costs and focus on speciality chemicals.
The move is part of Dow's restructuring plan to achieve $1.3bn in savings.
One ethylene production plant and two ethylene derivatives production facilities will be closed, affecting about 100 positions.
The shutdowns will eliminate the need for Dow to purchase about three billion pounds of ethylene annually and save about $100m annually, Dow said.
The actions are also aimed at transforming the company to invest in performance growth and advanced materials portfolios, Dow chairman and CEO Andrew N Liveris said.